How $34bn kiwi infra giant Morrison & Co is investing for the energy transition
Morrison & Co quietly began investing in infrastructure in New Zealand in the 1980s before it was a thing. Now it has renewable portfolio companies in every continent.
Few investors can say they beat Atlassian billionaire Mike Cannon-Brookes to market. But Singaporean-based Gurin Energy, a portfolio company of New Zealand-based infrastructure fund manager Morrison & Co, did exactly that when it signed a deal to supply renewable energy to the Singaporean electricity market ahead of Cannon-Brookes' SunCable, which is in the early stages of a 4300km subsea cable. If approved, the project would supply 1.75 gigawatts of electricity to the island nation to Australia's north.
Vimal Vallabh is a partner and head of energy at Morrison & Co, and sits on the boards of portfolio companies Gurin Energy and Mint Renewables. Founded in Wellington in 1988, Morrison & Co now has $34.3 billion of assets under management. It's a globally recognised leader in the energy transition, with renewable portfolio companies in every continent.
The firm invests according to macro themes that include global decarbonisation, the ageing population, data infrastructure, the circular economy and social infrastructure.
The last time Morrison & Co hit the headlines in Australia was in 2021 when it sold its highly successful Tilt Renewables business to AGL Energy for $3 billion, earning it a 40% rate of return.
